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Share value dips further by N163bn, as 21 stocks gain

By Michael Eboh
The declining fortune of  quoted companies continued Tuesday, as the value of listed equities on the Nigerian Stock Exchange (NSE) plunged further by N163.38 billion.


This was even as only 21 stocks, led by Nestle Nigeria Plc and companies in the Petroleum (Marketing) sub-sector, recorded share price gains.
The value of listed equities, represented by the market capitalisation, dipped by 2.5 per cent to close at N6.365 trillion from N6.528 trillion at which it opened.

Another key market indicator, the All-share index, also dropped by 2.5 per cent to close at 27,910.89 points from 28,627.29 points at which it opened.

Nestle Nigeria Plc recorded the most share price gain, rising by N8.39 to close at N188.50 per share, Total Nigeria Plc followed with a gain of N6.00 to close at N161.00 per share and Mobil Oil Nigeria Plc garnered N5.12 to close at N117.99 per share.

Other share price gainers include: Oando Plc N3.94, African Petroleum Plc N2.10, Benue Cement Company Plc N1.97, May & Baker Nigeria Plc N0.35, Longman Nigeria Plc N0.24, Red Star Express Plc N0.17, Guinness Nigeria Plc N0.15 among others.

On the contrary, Nigerian Breweries Plc recorded the most share price loss, dropping by N2.66 to close at N50.54 per share, UAC Nigeria Plc followed with a loss of N1.90 to close at N40.00 per share and Julius Berger Nigeria Plc shed N1.62 to close at N30.88 per share.

Other share price losers include: Union Bank Nigeria Plc N0.90, Dangote Sugar Refinery Plc N0.89, Ecobank Transnational Incorporated N0.86, Zenith Bank Plc N0.80, Cadbury Nigeria Plc N0.75, Unilever Nigeria Plc N0.72, Intercontinental Bank Plc N0.61 among others.

A significant appreciation was recorded in trading, as a turnover of 923.48 million shares valued at N5.3 billion was recorded in 10,137 deals, rising by 77.11 per cent from the previous day’s turnover of 521.43 million shares valued at N4.41 billion in 8,686 deals.

Trading was driven by activity in the Insurance sub-sector, accounting for 36.2 per cent of the market turnover, with 334.21 million shares valued at N324.86 million in 1,299 deals. Goldlink Insurance Plc accounted for the surge in trading in the sub-sector, trading 167.1 million shares valued at N85.2 million in 82 deals, Custodian and Allied Insurance Plc followed with the exchange of 28.5 million shares valued at N76.96 million in 132 deals and Standard Alliance Insurance Plc recorded 27.37 million shares valued at N45.41 million in 206 deals.

The Banking sub-sector followed on the sectorial analysis, accounting for 35.61 per cent of the market turnover, 328.84 million shares valued at N3.64 billion in 5,848 deals. GTBank Plc recorded the highest transaction in the sub-sector, trading 78.4 million shares valued at N1.02 billion in 641 deals, Diamond Bank Plc followed with the exchange of 41.75 million shares valued at N389.92 million in 306 deals and Access Bank Plc recorded 41.52 million shares valued at N391.55 million in 467 deals.


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